Wednesday 1 June 2011

Jersey looks to Israel for Innovation

UK ISRAEL BUSINESS is an organisation promoting bilateral trade and investment between the two countries. The Commercial Office at the Embassy of Israel enjoys a very close relationship with them and they work together on a number of projects.

A business delegation facilitated by UK ISRAEL BUSINESS recently took the States of Jersey Minister for Economic Development, Senator Alan Maclean, and Senator Freddie Cohen, Assistant Chief Minister, UK and International Relations, to Israel to promote trade and investment into Jersey.

The Ministers were accompanied by EDD Chief Officer, Mike King, Jersey Enterprise Director, Inward Investment and International Trade, Wayne Gallichan, and Director of International Affairs, Tom Walker, during their three day visit to Tel Aviv. The delegation, which also included Jersey Finance Chief Executive, Geoff Cook, focused on developing and diversifying Jersey business in three key areas:
  • Financial services
  • Clean technology (renewable energy, environmental transport etc)
  • eGaming
During the visit, ministers met with representatives from the Israeli Finance and Environment Ministries, the Chief Executive of the Tel Aviv Stock Exchange, the British Ambassador to Israel, His Excellency Matthew Gould, and visited the Israeli parliament. They also visited a number of key financial services and clean technology businesses, and held round table meetings with eGaming entrepreneurs.

"It is of great benefit to the island that we have been able to engage in positive meetings with senior Israeli politicians and business leaders,” commented Senator Cohen. “Israel is an important global market and we are pleased to be strengthening our political ties with the country, as well as meeting key business representatives."

Senator Maclean said the visit had been "extremely positive and productive,” adding: "We have attended a number of meetings with some of Israel's leading financial services companies and legal firms. Jersey's well-established reputation as a transparent, co-operative and well-regulated jurisdiction precedes us, and we have established some productive dialogues during our time here."

Daniel Seal, Chief Executive of UK ISRAEL BUSINESS, said: "This has been an important step in creating economic ties between Israel and Jersey. UK ISRAEL BUSINESS is delighted to be bringing these two countries together, which will improve the productivity of both Jersey and Israel."

Israeli officials accompanying the delegation spoke of "a massive synergy" between the countries and were hopeful that there would be repeat visits as well as a reciprocal delegation by Israeli business leaders to Jersey.

The visit by was covered in the media, including on the BBC News and in the Wall Street Journal, Tech Europe.

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